(1) An adverse claim to the contents of a safe deposit box is not sufficient reason to require the lessor to deny access to its lessee unless:
The lessor is directed to do so by a court order issued in an action in which the lesseeis served with process and named as a party by a name that identifies the lessee with the name in which the safe deposit box is leased; or
The safe deposit box is leased, or the property is held, in the name of a lessee withthe addition of words indicating that the contents, or property, are held in a fiduciary capacity for a named beneficiary or beneficiaries, and the adverse claim is supported by a sworn written statement of facts disclosing that it is made by, or on behalf of, such a beneficiary and that there is reason to know that the fiduciary may misappropriate the trust property.
A claim is also an adverse claim where one of several lessees claims, contrary to theterms of the lease, an exclusive right of access, or where one or more persons claim a right of access as agents or officers of a lessee to the exclusion of others as agents or officers, or where it is claimed that a lessee is the same person as one using another name.
The lessor of a safe deposit box shall not be deemed to be in possession or control ofthe contents thereof for the purposes of section 13-54.5-103, C.R.S., or any other statute or rule pertaining to writs of garnishment.
Source: L. 2003: Entire article added with relocations, p. 1127, § 3, effective July 1. L. 2009: (3) added, (HB 09-1053), ch. 159, p. 689, § 9, effective August 5.
Editor's note: This section is similar to former § 11-9-106 as it existed prior to 2003.